Mercer Global Advisors Inc. ADV Has $7.75 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Mercer Global Advisors Inc. ADV decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,076 shares of the semiconductor company's stock after selling 37,470 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Microchip Technology were worth $7,747,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MCHP. Mainstream Capital Management LLC bought a new position in Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its holdings in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after buying an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the fourth quarter worth approximately $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the 4th quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology in the fourth quarter valued at $34,000. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Evercore ISI boosted their target price on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. UBS Group lowered their target price on Microchip Technology from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, B. Riley reaffirmed a "buy" rating and issued a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.79.

Microchip Technology Stock Up 1.8 %

Shares of MCHP traded up $0.84 during midday trading on Wednesday, reaching $48.08. The stock had a trading volume of 9,565,793 shares, compared to its average volume of 8,286,914. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The company's fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $56.95. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 85.86 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company's stock.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.